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Is it me or does it seem that they are keeping the U's at 9% of K's and K's at 4% of P's?
Forgot about the 3.1a. Nice. That too...
Fsshon,
Your story is and always will be one to be admired.
I agree with what you say, but I definitely believe we are just seeing the tip of this iceberg. SG's got us dude...
Cheers.
Could it be SG told him to do it now and keep the money his firm raped from WMI or clawback everything as BR is a turd and SG can get it? Sometimes you get more holding something over someones head than actually doing what you threaten.
I sincerely think SG has everyones b@lls in the vise and he's just slowly turning the lever. I stand by my earlier assessment.
[edit links] Chiron,
Why would they give up that much money if they didn't have something?
See my posts:
These are the only steps that make sense to me. Allbeit, I've been out of the loop for a while. Thoughts?
Links not working,
msg: 296346
296329
Chuck
EDIT No offense here, but haven't you learned not to trust anything Rosen says. My speculation stands. EC won't sign off on GSA until releases are either paid or allowed to be pursued. My argument earlier stated that I believe that SG is using this negotiation with the hedgies as a way to present PJS's #'s to the court. Once that happens (and if), when assets start popping up, I feel confident that JPM and the FDIC would just grab handfuls of cash and throw it at us to make the fraudulent conveyance disappear. I really doubt the hedgies will object to anything the EC wants and likely will jump on board considering whats at stake. More money for them too. EC doesnt' have to sign the GSA right now. Only the hedgies will get signed off on release for now. They are at the table now, bets are raised, and they are holding a pair of aces. (take that anyway you like) ha
Again, speculation, but possible.
IMO
Partially true... They might not use the litigation reserve to go after them (FDIC and JPM), but they will probably (speculation here) will pay for the releases. The deal mentioned yesterday, was between the debtor, hedgies, and the EC. The old POR is moot and will be redrafted. The GSA between all parties including FDIC and JPM won't be signed by the EC until the releases are resolved. The third parties that will be sought after the reorg with the trust most likely will be ratings agencies, other gov. agencies (sec among others), quasi gov. agencies (fed reserve), and specific people (Paulson?)...
IMO
Bingo! EOM
K's starting to move. EOM.
Well think about it, it makes sense. Get the hedgies to play along or else, puts us in the money, introduction of PJS #'s, discrepancies found, more money comes in to settle, conflict specialist and hedgies offer evidence of foul play , we get $. Then comes tax specialists etc. stripping the rest from JP and FDIC. I hope my gut is right on this one. This may just be the most brilliant checkmate ever witnessed. Time will tell though.
AIMHO of course. Could just be delusional.
And how much you wanna bet, that this is just a way for Susman to introduce PJS's numbers to the court. August may not be the month of resurrection, may be later if the numbers prove any other allegations. JMHO
Shorty report anyone? EOM
You forgot to bold the part at the end of your quote...
.109'S hit over ask. Someones testing the waters.
Does anyone know where remedial math classes are taught in this guy's locale?
May just be my slow Etrade standard. Thanks for the update.
Chuck
Link it...
My Etrade has nothing today. Or is this just a joke?
Just hit Rueters in Italy:
http://it.reuters.com/article/itEuroRpt/idITLDE74N22O20110524
Translated:
Washington Mutual, agreed with creditors to exit bankruptcy
martedì 24 maggio 2011 18:17 Tuesday, May 24, 2011 18:17
Stampa quest'articolo Print this article
[ - ] Testo [ + ] [ - ] Text [ + ]
NEW YORK, 24 maggio (Reuters) - Washington Mutual (WAMUQ.PK: Quotazione ) ha raggiunto un accordo su un term sheet provvisorio con i creditori e gli azionisti che si spera spiani la strada per l'uscita dallo stato fallimentare.
NEW YORK, May 24 (Reuters) - Washington Mutual (WAMUQ.PK: Quote ) has reached a provisional agreement on a term sheet with its creditors and shareholders that it hopes will pave the way for the exit from bankruptcy.
Lo ha annunciato il procuratore legale di Washington Mutual al tribunale.
This was announced by the solicitor to the court of Washington Mutual.
A questo punto i documenti sull'accordo definitivo dovrebbero essere pronti in 7-10 giorni con l'udienza confirmatoria il 29 giugno. At this point the final documents on the agreement should be ready in 7-10 days with the confirmation hearing June 29.
WaMu dovrebbe uscire dallo stato di bancarotta a metà agosto e auspica di aver pronto un nuovo piano di riorganizzazione entro l'udienza prevista il 6 giugno. WaMu should get out of bankruptcy in mid-August and hopes to have ready a new plan of reorganization within the hearing scheduled for June 6.
Tra i punti dell'accordo l'istituzione di un trust per perseguire richieste danni a terze parti dopo la bancarotta e gli azionisti attuali abbiano la proprietà anche della società post-bancarotta. Among the points of the agreement for the establishment of a trust to pursue damage claims to third parties after the bankruptcy and existing shareholders have also the property of the company post-bankruptcy.
Inoltre, Washington Mutual post-bancarotta avrà linee di credito da 100 milioni di dollari per finanziare acquisizioni. In addition, Washington Mutual will have post-bankruptcy credit lines from $ 100 million to finance acquisitions.
I'm soo glad that we have new people "schooling" us on how this stock and fundamentals work. Really?
Waiting for the hearing in a couple hours... Looking forward to it. Go WAMU.
Morning everyone.
Get ready for round 2. IMO EOM.
Boom goes the dynamite!!! Someone had to say it. Ha.
They are trailing Fridays rise as they closed before the huge pop up.
Remove the .they at the end of the link.
All anyone has to do to see the reality is just remember VRMLQ. Pennies then bam!!! 30 bucks. Again, optimism vs. pessimism. Plus last year when this ran, it was with just speculation of a possible settlement. This is pretty much in the bag. We know the minimum we are getting now... Not sayin we are getting 30 p/s but the run up on speculation should be nice...
JMHO
Keep an eye open for news this weekend...eom
Congrats everyone!!! This is the first true blue step in the right direction. Only gets better from here. Wish my bipolarity had not kicked in when it did. Ill hold my measly few shares and see how she does.
More work to do, but WOW, Susman stepped up just when doubt was rearing its ugly head.
Again Congrats!!!
Ha. Well don't do that... Price of gas you know, everything's going up including underwear.
Glad to see you're still here, as well as everyone else that helps keep the fire going. I've kept my eye on you guys since I left, but my position here is very small now. That's what happens when you think you know how to flip a Q and just flipping out all together a while back. Haha. My bout with the mods has died down, so I may try to stop in more often.
Looks like for once, may find out something next week! May lady luck bring us some closure here.
Chuck
This is a public forum. People here are encouraged to share differing views with information at hand. One persons views can translate the facts as they stand to be favorable or unfavorable. Basically, it rests on the shoulders of the person whether or not that view is optimistic, realist, or pessimistic. People have the tendency to defend their rationale with emotion when they are questioned. Just because one person differs in opinion of what may happen doesn't mean it's an attack or that they should be attacked. Yes, as it stands their are many things in favor of equity, most notably having an EC, denied POR's and depositions being postponed. There are many things not in favor of equity, deep pockets, creditors, and a q at the end of the symbol. Now, if you look at the price history, you can assume that this stock is worthless. Or you can dig deeper. The choice is yours, not ours to make for you. Saying a stock is worthless just because the value is poor when their is so much going on with it seems a bit obtuse. No one, with any certainty whatsoever, knows what will happen. You, them, me, or anyone else not "behind the scenes" is in the dark until the switch is flipped.
Noone knows the future. But if you want to just pick a fight with a group of passionate people with tons of DD by mocking them, just a heads up... You will probably lose, or worse yet just be ignored.
Back to lurking...
Sup peeps?
Go WAMU.
Dell beats estimates. Hmmm heard that one before. Lets just hope their accounting standards have changed in the last few years and let's never forget the crap they've told investors in the past.
2010
www.sec.gov/news/press/2010/2010-131.htm
2003
www.betanews.com/article/Dell-Admits-Fraud-in-Financial-Reporting-Will-Restate-Earnings-Since-2003/1187306206
Begs the question, "Why did JPMC need to raise capital for the paltry $1.88B Wamu deal if they were doing so good?"
Just wanted to drop in and say Merry Christmas to all of you. I hope things are going well.
Your friend
Chuck
Just want to wish you guys and gals Merry Christmas and happy holidays. Still catch a peak over here once in a while.
Chuck
PS Good luck tomorrow.
The thing it will stimulate most is inflation. Especially along with the Feds mass printing of money. Still waiting on my prefs.
Did you dial 011 first?
**Just saw you did.**
A stock dividend is taxable on your tax return when: (Also posted by another poster.) http://www.wwwebtax.com/income/dividends.htm
you can elect to take either stock or cash, and you take stock; Not the case here
there are two or more classes of common stock and one or more receive cash and others receive stock; Not the case here
preferred stock is distributed to some common stockholders and common stock to other common stockholders; Not the case here
the dividend is of convertible preferred stock and is paid to common stockholders; unless the dividend does not result in the creation of disproportionate stock interests; not the case here
the stock dividend can be redeemed immediately for cash; not the case here
certain stock dividends paid to holders of preferred stock. not the case here.
Ha. Now that is funny.
Congrats everyone! Wish you all luck tomorrow too!
Guess someone has to pay the troll-toll to get into the boy's hole (I mean soul).